Bankruptcy

[Maxxedout]

I owe approx �10,000 to creditors and although ive been in touch with a debt counsellor and sent off reduced payments to everyone im still being hasselled by 2 banks its making me ill. I dont want to go bankrupt because ive been told that i wont be able to keep my car which is on finance ive been paying it for a year and a half but i need my car for work. Any advice would be helpful please.

[innocenti]

You wont always lose your car. if it is worth about �10000 then yes you would have to sell it but if it is only worth about �2000 the chances are you will keep it as you need it to get to work.

If the banks are hassling you go to Payplan or CCCS they will give you advise and deal with your creditors on your behalf. They will also advise which route would be best for you - DMP, IVA etc so get in touch with either of them.

Bankruptcy is a very last resort and should not be entered into lightly.